- Glaser led sponsor finance team, left firm this year
- Clients, responsibilities picked up by other team members
- Post-KKR plans unclear
The chief operating officer of Kohlberg Kravis Roberts’s capital markets team, Peter Glaser, left the firm earlier this year, according to his LinkedIn. He is no longer listed on the firm’s website.
Glaser was a member of KKR’s private credit investment team, having previously co-led the U.S. leveraged finance and execution group at Barclays Capital.
He joined KKR in 2010 and led the sponsor finance team, managed through the firm’s capital markets platform, his LinkedIn account showed. The sponsor finance team arranges debt and equity financing for external clients, as well as advising on transactions.
His post-KKR plans remain unclear. Glaser did not respond to requests for comment.
Glaser’s responsibilities are now being handled by other members of the capital markets team, which is led by Adam Smith. KKR declined to comment on why Glaser left the firm.
In 2015, Jeff Rowbottom, head of capital markets for North America at KKR, left and joined a venture capital firm, Bloomberg reported. Cade Thompson moved into his role, overseeing capital markets for the region, Bloomberg said.
The firm’s capital markets team hauled in roughly $94 million of transaction fees during the second quarter, according to the firm’s Q2 earnings call. Over the previous 12 months, the team executed 162 transactions resulting in around $300 million of fees.
“We’ve been doing a more effective job using the business model of Capital Markets and balance sheet across more parts of the firm,” Scott Nuttall, KKR’s co-president and co-COO, said during the call.
The capital markets team is now pursuing deals in the infrastructure sector, as well as Asia, and “we’ve been able to underwrite both equity and debt and syndicate both of those and generate fee economics for the firm,” Nuttall said.
KKR held roughly $148.5 billion of assets under management through the end of the second quarter. Co-Chairmen Henry Kravis and George Roberts founded the firm with Jerome Kohlberg in 1976.
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Kohlberg Kravis Roberts CEO Henry Kravis (right) departs after meeting Indian Prime Minister Narendra Modi at a breakfast in Manhattan on Sept. 29, 2014. Photo courtesy Reuters/Carlo Allegri